Investment banking has typically been a bright spot for the company, but that wasn't the case in this quarter. Revenue for the division slid 3% to $1.73 billion, reflecting an industry-wide decline in the number of completed mergers and acquisitions. Meanwhile, underwriting revenue was basically flat at $981 million.

Goldman's investing and lending business saw revenues jump 42% to $1.58 billion. Equity securities powered these results, with revenue surging 88% to $1.18 billion, reflecting the swelling valuation of private equity stakes in start-ups. Revenue from debt securities and loans, on the other hand, slid 18% to $396 million.

Its investment management practice is also doing well. Revenue increased 13% to $1.53 billion, as investors park more cash with the company. During the quarter, Goldman's assets under supervision increased $33 billion to $1.41 trillion.

Operating expenses declined 2% to $5.38 billion in the quarter, primarily reflecting a dip in employee compensation and benefits, which is linked to the company's revenue. The number of employees at the company was unchanged.

Bank of America also reported earnings on Tuesday, following results from JPMorgan Chase, Wells Fargo and Citi last week.